Who are the two parties involved in a bailment contract?

In a bailment contract, the two parties involved are the bailor and the bailee. The bailor is the person who owns the property and temporarily transfers possession of it to another person, known as the bailee, who is responsible for the care of that property during the bailment period.

The relationship is based on a mutual agreement where the bailee must return the property to the bailor upon completion of the purpose of the bailment or at the end of the specified time. This dynamic emphasizes trust, as the bailor relies on the bailee to handle the property properly and safeguard it while it is in their possession.

Other terms mentioned in the other choices, such as debtor and creditor, agent and principal, or grantor and grantee, pertain to different types of legal relationships and contracts, and do not accurately define the roles in a bailment, which is distinctly characterized by the transfer of possession with the intent of returning the original property.